A decrease in demand will increase total revenue:
a. Always
b. Only if supply is relatively inelastic.
c. Only if supply is relatively elastic.
d. Never.
d
You might also like to view...
If you buy a five-year-old TV from a friend, the amount you paid for the TV is
A) always added to consumption expenditures but not investment. B) always added to investment but not consumption. C) not included in this year's GDP. D) added to investment if the TV is expected to last more than 5 additional years and added to consumption if the TV is expected to last less than 5 additional years. E) included in this year's GDP only if the TV set was manufactured in the United States.
To the extent that households are target savers who save to reach a specific goal, an increase in the interest rate ________ household saving and a decrease in the interest rate ________ household saving.
A. increases; decreases B. does not affect; increases C. increases; does not affect D. decreases; increases
Where the consumption function intersects the 45-degree line
A. saving will be zero. B. savings will be negative. C. consumption will equal only autonomous consumption. D. the average propensity to consume is 0.5.
What are the two major problems facing the health care system?
What will be an ideal response?